How to choose your first car
by Andrei Carada / July 19, 2019
Looking for something fun to do this weekend? How about shopping for your first car?
Ah yes. You have finally made it big. You are now in possession of enough money to buy your first car. It’s one of those big decisions. But the question is: how exactly do you choose your first car?
1. BUDGET
The first thing anybody should figure out is their budget. Do you have enough money to pay in cash? Or do you have to take out a loan to finance your purchase? Are you going to avail of your dealer’s in-house financing option? Will you be looking for a second-hand car?
Next, you should scout for a car that fits your budget. Some cars can go for as low PHP 480,000 while some “entry-level” models can be as expensive as PHP 900,000 or more. If you go the second-hand route to save some money, you have to consider that maintenance costs get higher over time. A second-hand car can come with a host of issues that will get worse sooner rather than later.
2. UTILITY
You should consider the purpose of the car in question. A single person who goes to the office every day would have different needs compared to a family of four.
A small car for going to and from the office would be great for a young professional without a family of their own. The smaller size would make it easier to navigate the crowded streets of Metro Manila. It would also be easier to park especially in those tight spaces in central business districts (CBDs).
Another concern is seating. If you have a big family, it would be difficult to fit them all in a sub-compact good for only four people.
There is also a question of location. If you live in a rural area with a lot of bumpy roads or an area that is prone to a lot of floods, a small car would be out of the question.
3. BRAND EQUITY
Now that you have utility in mind, you need to choose the brand that is right for you. Certain brands have reputations, from being easy to maintain to downright terrible. A good indication of a good brand is the resale value of the cars. Look for the same model from the past year that is on the resale block. If you see a brand that has a steep drop in value then that’s an indicator of whether the brand is good or not.
Another good indication of a great brand is ubiquity. If you keep seeing a car on the road, it means a lot of people trust the brand. And if you see a lot of the same model on the road, it’ll be easier to find spare parts. The reason? A car brand would usually stock up more spare parts for their bestsellers rather than their niche models.
4. PACKAGES
You also have to consider the packages that come with the car. Some car brands offer free servicing up to 3 years, a tremendous value for a first-time car buyer. Insurance should come standard, as well as various other freebies like floor mats and rust-proofing treatments.
You also have to consider that one model can have different variants. Some would have a bigger engine displacement or have a tricked out kit that’s purely cosmetic. If you are on a budget, these variants should be out of the question.
5. BUYING YOUR CAR
At the end of the day, going home with your new car is one of the best feelings in the world. When you drive out of the showroom and into the streets of the Metro, you feel like you’re on top of the world. That being said, buying a car is not a difficult task. You just need to keep your wits about you and you’ll get the perfect first car.
